Neuilly-sur-Seine, 26 April 2018 – Linedata (LIN:FP) recorded revenues of €41.1million in the first quarter of 2018, a drop of 10.1% compared to the first quarter of 2017. On a like-for-like basis and at constant exchange rates, there was a decrease in revenues of 4.3%.
The recurring share of total revenues was €30.1million, which represents 73% of overall revenues compared with 72% in the first quarter of 2017.
Over the period, new order intake was €17.6 million, compared with €14.9 million in the first quarter of 2017, representing a 18.6% increase. This increase was driven by solid sales performance both in Asset Management and in Lending & Leasing.
Performance analysis by segment:
Asset Management (Q1: €26.7m, -14.7%)
In the first quarter of 2018, the Asset Management segment fell significantly due to the adverse impact of exchange rates. On a like-for-like basis and at constant exchange rates, the decline was -8.1%.
In Europe, reduced order intake last year resulted in a decrease in the number of projects during the beginning of this year. More generally, the Software business has temporarily slowed awaiting the scheduled launch of the new Asset Management Platform (AMP) during the course of this year.
Lastly, even though the services business was handicapped at the beginning of the year by a reduction in scope of a major customer contract for Gravitas, it registered a significant level of new orders of €2.3million, up 90%, compared to the first quarter of 2017.
Lending & Leasing (Q1: €13.4m, + 3.0%)
The Lending & Leasing segment has maintained the recovery of its sales activity with revenues up 7.4% at constant exchange rates. This increase in business was accompanied by a 12.9% marked improvement of orders, reaching €10.5million.
Continued customers migrations to Linedata Ekip360 and the positive impact of the new Linedata Capitalstream V11.0 resulted in an increase of new contracts over the first quarter.
Outlook
Thanks to an upward trend in orders booked, Linedata remains confident about its continued growth in 2018.
Next communication: Revenues for the 2nd quarter 2018, on 24th July 2018, after close of trading.